1. Identify the trends and changes that are occurring in the external environment that impact your chosen product's marketing plan.
   1. Specifically, consider trends and changes in the areas of Technology, Regulatory, Economics, Environmental, Demographics, and Socio-Cultural happenings in this marketplace.
   2. Research and analyze at least 3 factors.Explain for each of the factors you have selected the positive or negative implications (minimum of two for each) the external environmental factor could have on your chosen product's marketing plan. Ensure that you explain why?
   3. Provide recommendations (action plans) as to what you plan to do to alter your current marketing plan to address this implication, again based on the factors you selected. Ie How may this trend impact your Product, Price, Promotion or Place strategy...and Why? (10 marks) Product is Lululemon company

Format Example

External Trends	Implications: + and -
1, Technology: Presence of online website	Positive Lululemon has just put a renewed focus on updating their website to be more user friendly and easier to purchase Negative The chain still does not do next day delivery to home to compete effectively against Amazon. Also prices may not be competitive enough.
Economic:
Cultural?

1. Actions Plans

• The chain needs to significantly ramp up its on-line capabilities in the following areas; Example
  • Price: review to see if pricing are competitive enough
  • Place; Need to get next day delivery established to home vs going to store
  • Promotion: The chain needs to actively promote the on-line service to attract new customers and keep existing
  • Product: review their product line-up to see what other products they can add for variety